Governor pitches $9.1B budget, reserves $209M for debt
May 24, 2016
Puerto Rico Gov. Alejandro García-Padilla on Monday unveiled a proposed budget for Fiscal 2017 of $9.1 billion, down $700 million from the original budget that was approved last year and $192 million less than the adjusted current budget.
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U.S. Congress submits revised Puerto Rico legislation
May 19, 2016
The U.S. House of Representatives submitted late Wednesday H.R. 5278, the “Puerto Rico Oversight, Management, and Economic Stability Act,” which includes several revisions to the original bill proposing an oversight board and a debt-restructuring framework for the island.
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Backyard Bondholders support fiscal control board
May 19, 2016
Backyard Bondholders, a nonprofit organization representing individual Puerto Rico creditors, on Wednesday said it favors the adoption of a fiscal control board to facilitate an orderly debt restructuring process.
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